Published PapersRay, Sougata.,Mondal, Arindam.,Ramachandran, Kavil. (2018) "How does Family Involvement Affect a Firm's Internationalisation? An Investigation of Indian Family Firms", Global Strategy JournalRead Abstract >Close >
Research Summary: We investigate whether and how family ownership and management influence firms' internationalization strategies in an emerging economy in which family firms are dominant. Anchoring on the willingness and ability framework and drawing on the socioemotional wealth perspective and agency theory, we theorize how the heterogeneity among family firms in their ownership structures, concentration, and family involvement in management shapes the firms' internationalization strategies. We also theorize how certain contingencies, such as the presence of foreign institutional ownership and family management, moderate the relationship between family ownership and internationalization strategy. We test our predictions by using a proprietary, longitudinal panel dataset of 303 leading family firms from India and find support for most of our theoretical predictions.
 
Managerial Summary: Internationalization has emerged as a dominant strategy for firms in a globally interconnected world. We observe that ownership structure and management have significant bearing on internationalization strategies of family firms, as family owners and managers are more averse to internationalization. Family firms' aversion to internationalize is more pronounced when families can exercise greater control on firms' actions through the combined effect of higher family ownership (primarily through strategic control) and family's participation in management (through strategic, administrative, and operational control). However, certain contingencies, such as the higher ownership of foreign institutions and presence of professional managers, help business families improve their understanding of international markets, reduce the fear of the unknown, and better appreciate the benefits of internationalization, thereby aiding greater internationalization of family firms.


Published PapersLampel, Joseph.,Bhalla, Ajay., Ramachandran, Kavil. (2017) "Family Values and Inter-Institutional Governance of Strategic Decision Making in Indian Family Firms", Asia Pacific Journal of ManagementRead Abstract >Close >In this paper we use new venture creation in Indian family firms to explore the family firm as an inter-institutional system. We argue that in societies where the traditional family dominates social and economic life, the relationship between the two institutions, the firm and the family, is managed via inter-institutional logics. These inter-institutional logics help reconcile the tensions that often arise in the family firms during strategic decision-making. We use archival and interview data on thirty-six new ventures in eight Indian family firms to identify these logics. Our analysis shows that the interaction between firm and family institutional logics in Indian family firms generates four sub-logics: Economic, Expertise, Reputation and Attachment. These four logics are used to frame and screen new venture opportunities and justify resource allocation

Published PapersRamachandran, Kavil. (2014) "Institution Building: Experiences, Lessons and Challenges", The IUP Journal of Management Research, , Vol. XIII (No 1, 2014)
Published PapersRamachandran, Kavil., Marisetty, Vijay Bhaskar. (2009) "Governance Challenges for Family Controlled Firms while Globalizing", The Indian Journal of Industrial Relations, 45 (1), 54-61
Published PapersRamachandran, Kavil., Ray, Sougata. (2006) "Networking and Resource Strategies in New Ventures: a study of information technology start-ups", Journal of Entrepreneurship, 15 (2), 146-168Read Abstract >Close >While the network theory and the resource-based view of the firm has emerged as a dominant paradigm of management research, entrepreneurship researchers continue to show limited interest in studying resource strategies and the role of network in building dynamic capabilities in entrepreneurial start-ups. Scant discussion is available in extant literature on the dynamics of new venture resource strategy to explain how entrepreneurs continuously augment, manage and develop resources to match the shifting product-market strategy and use networks in doing so on a sustainable basis. This article, based on an analysis of two Information Technology (IT) start-ups, explores the innovative and dynamic resource and networking strategies such firms follow. An attempt has been made to conceptualise and explain how these firms maintain flexibility in resources by using the network mode of organisation in order to avoid strategic rigidity and craft strategies that are suited to the high velocity environment. Several propositions have been developed and practical implications have been drawn in this regard.

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